📊 Trend Accumulation Score (Glassnode)

Whales (>1k $BTC) have started to quietly accumulate again since May 2025.

This resurgence comes as the price is already high, a typical behavior in pre-expansion phases of bullish cycles.

Between Nov. 2024 and Jan. 2025, all cohorts accumulated, pushing BTC >100k.

But from February to April 2025, the 10k+ BTC holders distributed.

The current return of large holders suggests a second bullish wave is coming.

Small holders, on the other hand, are still waiting — which makes this rally healthier.

📈 When professionals buy, the public still doubts. Always the same pattern.